Trading ideas: SapuraKencana, Dayang, UMW

KUALA LUMPUR: JF Apex Research expects SapuraKencana Petroleum, Dayang Enterprise, UMW, Naim Holdings, Bonia and Alam Maritim to be among the counters which could see trading interest on Tuesday.
The research house said on Tuesday SapuraKencana and Dayang has secured more oil & gas service contracts.
JF
Apex Research said as for UMW, StarBiz reported the group is bidding
for Australia's Coates Hire, a company which rents out equipment for
RM8.7bil.
Meanwhile, Naim Holdings, Bonia and Alam Maritim as the groups posted stronger quarterly results.
Bright
Packaging could also attract interest after a Luxembourg based hedge
fund emerged as a third largest shareholder in the company.
On the market outlook, European stock markets kicked off the week with gains, rebounding from last week's losses.
Asian
equity markets are expected to open on the back foot on Tuesday, with
negative sentiment likely to linger in the absence of an overnight lead
from Wall Street, which was closed for a public holiday.
On the
local exchange, the FBM KLCI fell 5.93 points to 1767.13 points. Equity
markets globally have come back under pressure in recent days as jitters
about an early end to the Federal Reserve's ultra-lose monetary policy
sparks a pull-back in stocks from lofty levels.
“As such, we expect the FBM KLCI to remain range bound with a negative bias. Immediate support is seen at 1,750,” it said.